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Palmetto Home Advantage Program
South Carolina State Housing Finance and Development Authority
South Carolina State Housing Finance and Development Authority
Abstract
The Palmetto Home Advantage Program is SC Housing’s mortgage program designed to serve
both first-time and “move-up” borrowers. It is a conventional mortgage offering 0%, 3%, 4% or 5%
forgivable down payment assistance, no first-time homebuyer requirements and reduced mortgage
insurance coverage (18%) for lower monthly payments. New and existing homes are eligible.
Conventional ease. Flexible options. For borrowers with credit scores of 640 or higher, Palmetto
Home Advantage offers cost savings over the long term. Mortgage insurance may be cancelled;
certain restrictions apply. Maximum borrower income limit is 80% of Area Median Income (AMI) as
determined by Fannie Mae or Freddie Mac. Your lender will determine if you qualify. A Palmetto Home
Advantage Program mortgage may be the loan program for you!
Issue Date
2020-08-18
Keywords
Palmetto Home Advantage Program, House buying--South Carolina, Mortgage loans--South Carolina, Economic assistance, Domestic--South Carolina
Type
Text
Rights
Copyright status determined to be in the public domain on April 27, 2020 by United States Supreme Court ruling (Georgia et al., Petitioners v. Public.Resource.Org, Inc. : 590 U.S.__(2020))
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